Entrepreneurship – 5 Characteristics Required to Become a Successful Entrepreneur

Many people would like to leave their 9-5 jobs and start their own businesses; however, becoming an entrepreneur is not for everyone. An entrepreneur must have the following personal and character traits in order to be successful.

Essential Personality Traits:

Self-Discipline and Self-Determination – There are a number of key skills and personal attributes that an entrepreneur needs, but many of them can be summarized by this one: a self-starter who has a penchant for taking action; someone who is an “actor” in the game of life, not merely a spectator on the sidelines.
Leadership and Influence – An entrepreneur will need to “sell” his/her ideas to a wide variety of people, probably starting with a banker or other investment partner, and continuing through a constant stream of contacts with both vendors and customers. Honesty and integrity are critical to establishing a position of leadership and influence.
An Optimistic Attitude rather than a Pessimistic Outlook – An entrepreneur must have the ability to see the positives in any situation and to visualize a positive outcome, regardless of the challenges or obstacles s/he might currently be facing.
A Good Imagination and Ability to Create or Innovate – An entrepreneur must also have the ability step outside the boundaries of current thinking and limiting assumptions, to think “outside the box, including the ability to see opportunities where others see only constraints and obstacles.
Ability to Take Calculated Risks – Risks are present in any endeavor, and the entrepreneur must be able to quickly and accurately assess the risks inherent in his/her proposed venture, and then must have the courage and fortitude to act when the opportunity is right.

Essentially, an entrepreneur sees a problem that is currently unmet – or insufficiently met – and creates a solution that satisfies the needs and wants of a particular market niche.

Anyone who can creatively solve problems in the environment, maintain self-control and self-discipline, and demonstrate an optimistic attitude along with the desire an motivation to succeed will do just that – succeed.

If you share the above characteristics, you too can become a successful entrepreneur; however, if you lack any of these qualities, entrepreneuring may not be the best solution for your future success and financial security.